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Index of Eight Core Industries
Context
The combined Index of Eight Core Industries increased by 12.7 per cent (provisional) as compared to the Index of June 2021.
About
What are the ‘eight-core sectors’ of India?
- In India, there are eight sectors that are considered the core sectors.
- The eight-core sectors of the Indian economy are electricity, steel, refinery products, crude oil, coal, cement, natural gas and fertilizers.
- Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade is responsible for the release of the Index of Eight Core Industries.
- It maps the volume of production in the eight most fundamental industries of our economy.
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Components to calculate the ICI
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Key-highlights of the Index of Eight Core Industries:
- Petroleum Refinery has the highest weightage in the index of eight core industries followed by Electricity generation, Steel, Coal, Crude Oil Production, Natural Gas, Cement Production and Fertilizers respectively.
- The Eight Core Industries comprise 27 percent of the weight of items included in the Index of Industrial Production (IIP).
- At present, the base year for the Index of Eight Core Industries (ICI) index is 2011-12.
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